BP Making Clear Overtures To Iran

The announcement was made on state-run news agencies by Rokneddin Javadi, chairman of the state-run National Iranian Oil Company (NIOC)

According to Javadi, the office will be a first step in BP’s plans to transfer technology and capital to Iran.

This statement follows news last week that BP would help Iran recover revenues from their shared Rhum offshore gas field, which the two launched in 2005 and jointly operated with 50/50 interests until operations were suspended in light of EU sanctions in November 2010.

Iranian Deputy Oil Minister for International Affairs Amir Hossein Zamaninia has now said that “Britain has pledged to help provide Iran with revenues made from sales of natural gas from the Rhum gas field in the North Sea which the country jointly shares with British Petroleum (BP).”

BP is not the only company making clear overtures to Iran in the post-sanctions environment. Austria’s OMV signed a memorandum of understanding with the NIOC earlier this week, along with French Total SA.

The OMV agreement relates to the evaluation of field potential in western Iran, in the Zagros region, where the Austrian company has had a presence since 2001.

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